Global CRISPR and CAS Gene Market to Surpass US$ 3,494.4 Million by 2027, Says Coherent Market Insights (CMI)
SEATTLE--(BUSINESS WIRE)--#CAS--According to Coherent Market Insights, the global CRISPR and CAS gene market is estimated to be valued at US$ 830.7 million in 2020 and is expected to exhibit a CAGR of 22.8% during the forecast period (2020-2027).
Key Trends and Analysis of the Global CRISPR and CAS Gene Market:
Key trends in the market include increasing research and development activities, product launches, inorganic activities such as collaborations, and others.
Key players are focusing on increasing research and development for new treatments for genetic disorders, which is expected to drive the growth of the global CRISPR and CAS gene market over the forecast period. For instance, in June 2019, GlaxoSmithKline Plc partnered with gene-editing pioneers based at the University of California (UC) to establish a new laboratory that aims to speed up discovery of new treatments by exploring how gene mutations cause disease, and developing new CRISPR-based technologies.
Market players are indulged in launching new kits, which is expected to drive growth of the market over the forecast period. For instance, in June 2019, Synthego, a global genome engineering solutions company, announced the launch of the Gene Knockout Kit v2. This is the only product that leverages a novel bioinformatics- powered multi-guide strategy to guarantee a gene knockout. The kit will accelerate research by saving scientists from multiple trial-and-error cycles in optimizing their CRISPR experiment.
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Various biotechnology and pharmaceutical companies are focusing on collaborations to conduct research and development for treatment of diseases such as cancer, AIDS, genetic diseases, and others, which is expected to drive growth of the market. For instance, in October 2019, CRISPR Therapeutics and Bayer announced plans for a joint venture between CRISPR Therapeutics and Bayer and Casebia Therapeutics would operate under the direct management of CRISPR Therapeutics. Casebia Therapeutics would focus on the development of its lead programs in hemophilia, ophthalmology, and autoimmune diseases.
Key Market Takeaways:
Increasing prevalence of genetic disorders such as Down’s syndrome, Sickle cell anemia, and Huntington’s disease worldwide is expected to drive the growth of the global CRISPR and CAS gene market over the forecast period. For instance, according to National Health Service (NHS) U.K., 2018 report, the highest rate of Huntington’s disease in the U.K. is 12 per 100,000 people.
Among all the regions, North America is expected to hold a dominant position in the global CRISPR and CAS gene market over the forecast period, owing to the increasing number of research studies regarding the CRISPR and CAS gene technology in the region. For instance, in 2017, Editas partnered with Juno Therapeutics for cancer-related research using CRISPR. Under the terms of the agreement, Juno had to pay Editas an initial payment of US$ 25 million, in which up to US$ 22 million will be used in research support for three programs over five years.
Competitive Landscape:
Key players operating in the global CRISPR and CAS gene market include Thermo Fisher Scientific Inc., Merck KGaA (Sigma-Aldrich), OriGene Technologies, Inc., New England Biolabs, Cellecta, Inc., Agilent Technologies, Inc., Applied StemCell, Inc., Synthego, Genscript, Mirus Bio LLC, Integrated DNA Technologies, Inc., and Mammoth Biosciences, Inc.
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Market Segmentation:
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Global CRISPR and CAS Gene Market, By Product Type:
- Vector-based CAS
- DNA-free CAS
- Others
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Global CRISPR and CAS Gene Market, By Application:
- Genome Engineering
- Disease Models
- Functional Genomics
- Knockdown/Activation
- Others
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Global CRISPR and CAS Gene Market, By End User:
- Biotechnology and Pharmaceutical Companies
- Academic & Government Research Institutes
- Contract Research Organizations
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Global CRISPR and CAS Gene Market, By Region:
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North America
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By Country:
- U.S.
- Canada
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By Country:
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Latin America
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By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
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By Country:
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Europe
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By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
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By Country:
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Asia Pacific
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By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
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By Country:
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Middle East
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By Country:
- GCC
- Israel
- Rest of Middle East
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By Country:
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Africa
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By Country/Region:
- South Africa
- Central Africa
- North Africa
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By Country/Region:
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North America
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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Editor Details
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Company:
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